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BRAC Bank wins accolade at Global SME Finance Awards

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  Published in Business and Finance on Saturday, September 20th 2025 at 11:57 GMT by The Daily Star
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BRAC Bank Earns Global Recognition at SME Finance Awards – A Milestone for Bangladesh’s SME Ecosystem

Bangladesh’s most progressive commercial bank, BRAC Bank, has added a shiny accolade to its growing list of achievements. The institution was awarded the “Best SME Financial Institution” at the Global SME Finance Awards 2024, a ceremony that drew together the world’s leading banks, fintech innovators, and corporate lenders. The award, presented at the Singapore FinTech Festival in mid‑March, underlines BRAC Bank’s relentless focus on small and medium‑enterprises (SMEs) – a key engine of the country’s economic growth.

What Are the Global SME Finance Awards?

The Global SME Finance Awards, organized by Global SME Finance (GSF), is an annual event that spotlights best‑in‑class performers in the global SME financing arena. GSF partners with BNY Mellon and a network of industry stakeholders to assess banks, fintechs, and corporates on a range of criteria that includes:

• Loan Portfolio Size and Growth
• Risk‑Adjusted Return on Assets
• Innovative Product Offerings
• Digital Platform Adoption
• SME Impact Metrics (e.g., jobs created, revenue generated)

The 2024 edition, hosted in Singapore, brought together more than 30 banks and fintechs from 20+ countries. Besides the top honor, awards were distributed across several categories such as “Digital SME Solutions,” “SME Lending Innovation,” and “Regional SME Leader.”

Why BRAC Bank Stood Out

BRAC Bank, part of the globally renowned BRAC Group, has long championed inclusive banking. Its SME arm, known as BRAC Bank SME Division, has delivered an impressive track record:

Key innovations highlighted by GSF include:

• BRAC‑Smart Credit – a decision‑making engine that assesses non‑traditional credit data using AI, enabling faster approvals for SMEs with limited credit histories.
• Digital Payment Gateway for SMEs – a lightweight API that lets small retailers accept digital payments on smartphones and point‑of‑sale devices.
• SME Advisory Hub – an online portal offering best‑practice guides, market research, and financing calculators tailored to specific industries (e.g., textiles, agro‑processing).

The awards committee cited BRAC Bank’s “balanced risk management” and “customer‑centric product portfolio” as pivotal factors that secured the accolade.

Voices From the Bank

Md. Kamal Hossain, Managing Director of BRAC Bank, expressed elation over the win:
> “Receiving the Best SME Financial Institution award is a testament to the dedication of our SME teams. We remain committed to democratizing finance for entrepreneurs, and this recognition motivates us to push further into digital inclusion.”

Dr. Tasnim Faruque, Head of BRAC Bank’s SME division, added:
> “Our journey is rooted in the BRAC Group’s mission of empowering the poor and creating livelihoods. This award underscores the importance of tailored financing solutions that can help SMEs scale and create jobs.”

The bank’s leadership highlighted how the award will help accelerate future partnerships with local industry associations, universities, and international donors focused on SME development.

Contextualizing the Achievement

BRAC Bank’s triumph is not only a personal win; it reflects the broader dynamism of Bangladesh’s SME sector, which contributes roughly 70 % of the nation’s GDP and employs half a million workers. However, access to formal credit remains a hurdle, with only 30 % of SMEs secured bank financing.

The award signals to regulators, investors, and international partners that Bangladeshi banks are stepping up to deliver high‑quality, innovative financial services. BRAC Bank’s approach, which marries deep local market knowledge with cutting‑edge digital tools, may serve as a blueprint for other banks in the region.

What Comes Next for BRAC Bank?

The bank’s forward‑looking strategy includes:

1. Expanding the Digital SME Suite – Launching a mobile app that aggregates real‑time cash‑flow analytics for SMEs, integrated with government data to streamline tax filings.
2. Green SME Financing – Partnering with the Bangladesh Climate Change Fund to offer low‑interest loans for eco‑friendly manufacturing and sustainable agriculture.
3. SME‑Focused Investment Fund – Creating a vehicle that pools private and institutional capital to support high‑growth SMEs in technology and renewable energy.

A senior analyst at Banking Asia noted,
> “BRAC Bank’s award win will likely open doors for larger cross‑border collaborations, especially as Asian economies look to integrate SME financing into broader financial ecosystems.”

Looking Ahead

The Global SME Finance Awards are not just a trophy; they are a benchmark that encourages continuous improvement in a rapidly evolving sector. BRAC Bank’s receipt of the “Best SME Financial Institution” title positions it as a leader both domestically and internationally. With its proven track record and ambitious roadmap, the bank is poised to drive greater financial inclusion for thousands more SMEs across Bangladesh.

In a world where digital innovation is reshaping finance, BRAC Bank’s recognition serves as a reminder that inclusive, customer‑first banking can not only thrive but also earn global respect. The future for Bangladesh’s SMEs looks brighter than ever, with BRAC Bank leading the charge.